Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Illinois
ILFNDTRSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
165.80
Year-over-Year Change
-75.07%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the funds, trusts, and other financial vehicles industry in the state of Illinois. It provides insight into the economic activity and performance of this important financial sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Illinois series represents the inflation-adjusted value of goods and services produced by the financial vehicles industry in the state. It is a key indicator of the health and growth of this industry, which plays a significant role in the overall Illinois economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, analysts, and investors to assess the strength and competitiveness of Illinois' financial services sector.
Key Facts
- Illinois is a major financial center, contributing significantly to the state's economy.
- The funds, trusts, and other financial vehicles industry accounts for a substantial portion of Illinois' GDP.
- Tracking this trend helps policymakers understand the performance and competitiveness of Illinois' financial services sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the funds, trusts, and other financial vehicles industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic activity and performance of the financial vehicles industry, which is a significant contributor to the overall Illinois economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, analysts, and investors to assess the strength and competitiveness of Illinois' financial services sector, which is crucial for the state's economic growth and development.
Q: Are there update delays or limitations?
A: The data is subject to the same publication and revision schedule as other GDP-related statistics from the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Illinois (ILFNDTRSTRGSP), retrieved from FRED.